Budget 2023–24: Govt decides to double withholding tax for non-filers in property sector

09:42 PM | 8 Jun, 2023
Budget 2023–24: Govt decides to double withholding tax for non-filers in property sector
Source: File Photo

ISLAMABAD – The federal government has decided to double Withholding Tax (WHT) for non filers on buying and selling in property sector.

Federal cabinet has decided to include Rs700 billion new taxes in the forthcoming budget for the fiscal year 2023–2024.

Following extensive discussions with the IMF, the government decided to set the Federal Board of Revenue's (FBR) tax collection goal at Rs9,200 billion, or around Rs1,900 billion higher than the previous fiscal year.

The Finance Bill, which suggested raising the withholding tax on the import of luxury goods, has been finalised by the government. 

Additionally, it has been suggested to double the WHT for non-filers when purchasing and selling real estate.

Similar to this, the bill suggests increasing WHT for trading prize bonds.

Daily Pakistan Global Web Desk


Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 26 Feb 2024

Pakistani currency remains stable against US dollar in the open market on February 26, 2024 (Monday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 26 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94


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